If the Shares of Stock Sold or Exchanged Are Not

question 132

True/False

If the shares of stock sold or exchanged are not specifically identified,the average cost method of identification must be used.

---

Definitions:

FICA-Medicare

The portion of FICA taxes that funds Medicare, providing health insurance for the aged and disabled.

Employees' Contribution

Monies that employees contribute from their salaries towards benefits, retirement plans, or taxes.

Retirement Fund

A financial arrangement designed to replace employment income upon retirement, often composed of contributions from employees, employers, or both.

Employee Earnings

The total compensation an employee receives, including wages, salaries, bonuses, and other forms of payment, before any deductions.